1031 Vocabulary
Identification period
The forty-five day period beginning the day following the transfer of relinquished property and ending at midnight on the forty-fifth day.  During the identification period, the exchanger must identify replacement property to successfully complete a section 1031 exchange.
 
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Saturday, 04 July 2009
Related party exchange PDF Print E-mail

An exchange in which the exchanger transfers relinquished property to, or acquires relinquished property from, a related party.

Section 1031 provides rules governing direct and indirect related party exchanges. Section 1031 nonrecognition generally is not available to direct related party exchanges, if either the exchanger or related party transfer one of the exchange properties within two years following the exchange.
 
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